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Old 09-04-2007, 11:15 PM   #1
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Unhappy Old British 20-pound notes! Exchange for new??

Alright, this isn't a monumental emergency, as I don't land in the UK until next week, but I might have to take measures/do some planning before that, so it is pretty urgent.

Here's the deal: Every time I head to Europe via London, my dad gives me a fistful of Pounds Sterling from way back when we moved to the States from there. It comes in handy as I don't have to get ripped at the airport exchange booths, and can wait 'til I'm settled in to hit up an ATM.

As of 2001, the UK started phasing in newer £20 notes, and by 2002, most retailers weren't accepting the old ones. Fair enough - just go down to the local bank branch and exchange 'em for new ones... My question is - can I still exchange the old ones for new (legal tender is always legal tender, right?) and if so, is there a deadline to exchange them? Also, can I only exchange them at banks, or are there other places I can do it? (Post Offices, bureau de change, etc...)

Because if I need to hurry up and get them exchanged, my dad will have to give me all of his 20s, right?

I've put some good time into searching the internet but maybe my keywords weren't good/specific enough. Anyone gotta clue? Thanks!
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Old 09-04-2007, 11:31 PM   #2
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Old 09-04-2007, 11:32 PM   #3
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Omi, according to the Bank of England website, bank notes retain their value for all time. However, you'll need to change the older notes at the Bank of England in London. Which means trekking around London finding the bloody place.

This is what it says you need to do:

Counter Exchange
Bringing your banknotes that have been withdrawn from circulation to the Bank in person for exchange
If you wish to exchange your notes in person you will need to bring them to the Bank of England, Threadneedle Street, London. The nearest London Underground station is Bank on the Central and Northern Line; the Docklands Light Railway also serves Bank station.
Opening hours at the Bank in London are 9:30am until 3:00pm, Monday to Friday excluding Bank holidays.
Application forms to exchange notes are available at the Public Counter.


You can do it by post, it says, but who wants to be sending cash through the post?

We recently had another change of £20 note, so that's 2 in about 8 years.

Anyway, hope that helps.
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